Haysville trustees hear bond‑refunding analysis that could save about $1.1 million

Brett Shogren of Stifel Public Finance presented refunding options to the Haysville USD 261 board and explained why current market conditions could make refinancing a cost‑saving option. Shogren identified the 2015 bond series and related maturities as newly callable and showed a scenario that produces a cash premium of about $3.94 million, which could be used to reduce the principal of a new issue and generate net savings.

Shogren provided the quantitative estimate: gross reduced principal-and-interest savings of about $1,092,291.67 over the next decade and a present‑value benefit of about $939,326.93, representing roughly 2.755% of the refunded par. He said a tail‑end structure could increase total savings to about $1.275 million, and emphasized industry standards that look for at least 2% present‑value savings to justify a refunding.

Administration noted that the district benefits from high state aid on those earlier bond issues (reported in the presentation as approximately 88–92%), which limits local mill‑levy impact of the savings. Trustees and staff discussed timing risk—whether to act quickly if the market is favorable, or wait for slightly better rates—and directed staff to bring updated pricing to the board at the next meeting in three weeks.

No vote was taken; the presentation was a first reading and informational. If the board later approves a refunding resolution, the district would return to the market and could close on a refunding issuance in early 2026, depending on pricing and schedule.